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A commentary on current market events in the world of commercial and residential property
  • Michael Parkes Surveyors Limited are proud to announce that our Managing Director, Denise Ford has been elected as Chairperson of NARA, the Association of Property and Fixed Charge Receivers, a multi disciplanary body representing all those involved with the work of Law of Property Act Receiverships.
  • Check out our latest Property Market Overview on our website

    http://www.michaelparkes.co.uk
  • "Commercial sector outlook is grim"

    http://www.ft.com/cms/s/0/7b0bd832-0c4b-11de-b87d-0000779fd2ac.html



    "Just when will recovery return?"

    It's difficult to say - and we don't want to be held to it - but there are so many mixed reports now being banded about that it's probably worth us adding our own thoughts to those already being expressed.

    It is obvious to all that values have dropped and in many places are continuing to do so... but enquiries, particularly for leased property appear to be holding their own - and deals are being agreed - in our experience. There are still businesses which are expanding, downsizing or relocating and they are active in the market place.

    Much talk is seen about recovery occurring in the last quarter of 2009 - as we are now rapidly heading towards the end of the first quarter, perhaps we should aim for a...
  • Perils of the Defaulting Landlord
    ** Perils of the defaulting landlord **
    Some tenants are being left out of pocket and facing homelessness when landlords fail to pay the mortgage on properties.
    < http://news.bbc.co.uk/go/em/fr/-/1/hi/uk/7912025.stm >

    Michael Parkes Surveyors Limited comment on this article:

    It's interesting to see that, finally, people are waking up to the facts: though we remain mystified as to why there is a call for government legislation when, since 1925, the Law of Property Act has enabled Lenders (with a correctly worded and registered Legal Charge over the property concerned) to appoint LPA Receivers to take over tenanted property (whether legally let or not) and manage their properties - ideally out of debt.

    Too many Lenders are now, allegedly, throwing tenants out of homes when they are legitimately and correctly paying their rent. It will only take one tenant to take umbrage and take that...
 
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